v3.25.2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and non-interest-bearing deposits due from banks $ 12,339 $ 12,768
Interest-bearing deposits due from banks 152,196 150,089
Total cash and cash equivalents 164,535 162,857
Securities:    
Securities held to maturity, fair value of $3,498 at June 30, 2025 and $3,609 at December 31, 2024 (net of allowance for credit losses of $0 at June 30, 2025 and December 31, 2024) 3,594 3,758
Securities available for sale, at fair value (net of allowance for credit losses of $0 at June 30, 2025 and December 31, 2024) 102,636 83,755
Loans held for sale 10,593 12,404
Loans 1,966,452 1,985,524
Allowance for credit losses (21,571) (22,779)
Loans, net 1,944,881 1,962,745
Premises and equipment, net 14,388 15,337
Operating lease assets 10,890 8,337
Accrued interest receivable 11,665 11,849
Prepaid post retirement plan 3,312 3,377
Stock in Federal Home Loan Bank ("FHLB"), at cost 7,869 7,885
Goodwill 19,168 19,168
Other intangible assets 222 250
Loan servicing rights 6,449 6,016
Deferred income taxes 1,524 1,569
Other assets 10,250 12,803
TOTAL ASSETS 2,311,976 2,312,110
Deposits:    
Non-interest-bearing demand 243,664 211,656
Savings, NOW and money market 1,195,992 1,244,857
Time 511,625 497,770
Total deposits 1,951,281 1,954,283
Borrowings 107,805 107,805
Subordinated debentures ($25,000 face amount less unamortized debt issuance costs of $284 and $311 at June 30, 2025 and December 31, 2024, respectively) 24,716 24,689
Operating lease liabilities 11,565 9,025
Accrued interest payable 1,473 1,532
Other liabilities 16,251 18,138
TOTAL LIABILITIES 2,113,091 2,115,472
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY    
Preferred stock, Series A (par value $0.01; 15,000,000 shares authorized; issued and outstanding 275,000 at June 30, 2025 and December 31, 2024, respectively) 5,041 5,041
Common stock (par value $0.01; 17,000,000 shares authorized; issued and outstanding 7,224,243 and 7,152,127 at June 30, 2025 and December 31, 2024, respectively) 72 72
Surplus 124,624 124,937
Retained earnings 70,375 67,922
Accumulated other comprehensive loss, net of tax (1,227) (1,334)
TOTAL STOCKHOLDERS' EQUITY 198,885 196,638
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,311,976 $ 2,312,110